In this interview, I talk to Parker Lewis, Head of Business Development at Unchained Capital. We discuss the principles of money, the propensity of monetary convergence, and why bitcoin obsoletes all other money.

SHOW NOTES:
https://www.whatbitcoindid.com/podcast/gradually-then-suddenly-pt-2-bitcoin-first-principles

THIS EPISODE’S SPONSORS:
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TIMESTAMPS:
00:00:00 Introduction
00:06:40 Money is a tool
00:09:09 Specialization benefits all
00:14:10 Monetary emergence
00:20:00 Monetary properties
00:24:00 Objective vs Subjective
00:27:00 Intersubjective adoption
00:30:36 Bitcoin obsoletes other money
00:37:28 Bitcoin is perfect money
00:44:00 Conscious monetization
00:51:00 Bitcoin, not blockchain
00:55:53 Everyone feels late
00:59:00 Logic of Concensus
01:11:00 Bitcoin is not backed by nothing
01:24:00 Credibility of 21M
01:29:00 Cost of a dollar is zero

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****

“The underpinnings of the dollar are identical to the underpinnings of the Bolivar, it costs zero to produce 3 trillion bolivars, and it costs zero to produce 3 trillion dollars...goods are becoming more expensive because the underlying monetary unit is being debased.”
— Parker Lewis

Location: Remotely
Date: Tuesday 6th June
Company: Unchained Capital
Role: Head of Business Development

When people attempt to understand bitcoin, it is easy to get caught up in some of the myths we addressed in Gradually then Suddenly Pt 1 - Killing the FUD. In this Part 2 episode, we go deeper into the principles of monetary economics.

Money solves the intersubjective problem of trade and facilitates specialisation in society. Therefore, how we solve these problems can help objectively evaluate the properties of money.

The most important property of money is scarcity, and bitcoin, with its fixed supply and monetary properties, reigns king. But from where do these properties derive? And what about other blockchains? How can bitcoin obsolete all other money?

In this interview, I talk to Parker Lewis, Head of Business Development at Unchained Capital. We discuss the principles of money, monetary convergence, and why Bitcoin obsoletes all other money.